LIC Lanka redefines insurance industry
The term 'life insurance' brings to mind the delicate and fragile
nature of life. The terrain and uncertain future is tormenting,
especially when the going gets tough.
Life Insurance Corporation (LIC) Lanka, with its mission to assist
people to choose the best policy to serve themselves, is a provider of
life insurance solutions.
With a team of experienced and dynamic professionals and strong
capital, LIC Lanka offers a wide range of tailor-made insurance products
and services of international standard.
LIC Lanka is redefining the industry by diversifying and expanding at
a time competitors are contracting due to uncertain economic conditions.
Driving change and venturing into new frontiers and innovations which
impact positively on clients, LIC believes in its objective of
delighting its customers and delivering value to its shareholders in the
best ethical manner.
Customer satisfaction governs the company's operations.
LIC Lanka offers a range of innovative policies that include its Life
Term Policy, which has no eminent end and remains active as long as the
policy owner is alive.
Any risk the person faces is covered fully by the company.
Uncertainty in life situations is fully taken care of.
'Ashirwada' is a life assurance policy from LIC that provides
children with financial security for their education and marriage.
The sum assured along with all vested bonuses is payable in a lump
sum or in ten/twenty half-yearly installments with interest at the
option of the life assured, at the end of the term of the policy. Even
after the death of the life assured the bonus continues to accrue till
the end of the term.
The double accident benefit is available during the term of the
policy. Loans will also be granted against the surrender value of the
policy after payment of premiums for at least three years. Interest on
such loans will be fixed by LIC from time to time.
LIC Lanka has also introduced Jeevanananda with a profit assurance
plan, a combination of the whole life plan it is the most popular
endowment assurance plan.
The plan provides a pre-decided sum assured and bonuses at the end of
the stipulated premium paying term, but risk cover on the life continues
till death.
With its aim of making dreams come true through clear cut financial
planning and systematic savings method, Divyagana is a life policy
exclusively for women. Women of today have excelled in all aspects of
life.
They have a distinct presence in every profession, vocation or trade
and have distinguished themselves in managing household activities with
an inherent instinct to save - to meet the unexpected and the
unforeseen.
LIC Lanka has therefore specially designed this plan for women
encouraging them to save for safety and security.
The policy provides for funds in times of need such as education and
marriage which is a perfect gift to a woman with flexibility in premium
payment, periodic returns of sum assured and life cover that continues
despite non-payment of premium, pregnancy and child birth risk along
with accident benefit at no extra cost.
This policy is open to all females between the ages 18 -55 years.
A joint venture between Bartleet & Co. Ltd. and Life Insurance
Corporation of India, LICL is part of a group that has 1,200,000 agents,
2,048 branch offices, 110 divisional offices and eight zonal offices.
LIC Lanka is backed by LIC India which has existed for over 50 years,
and has acquired almost monopoly power in the solicitation and sale of
life insurance policies in India extending its activities in 12 other
countries, with the objective of catering to the insurance needs of non
resident Indians.
The Life Insurance Corporation of India (LIC) is owned by the State
and has been termed as the biggest life insurance corporation in the
world in terms of number of policies. Since its inception in 1956 it has
moved in full swing to serve the great masses of India.
LIC has its headquarters in Mumbai with eight zonal administrative
units, 110 offices at the divisions and over 2,048 branches established
across the land and covers over 250 million policies.
The Indian based blue-chip also has offices in U.K, Mauritius, Kenya,
Singapore, Fiji, all Middle East countries and Nepal besides its venture
in Sri Lanka.
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